Bitso has listed 50+ cryptocurrencies, with trading fees ranging from 0.04% to 0.25% for makers and from 0.05% to 0.30% for takers in the USD market.
The exchange's attractive offerings include an Earnings program on multiple coins (e.g., USDT, ATOM, ETH, and USDC) and a Crypto Debit card (Bitso Card). US clients are not accepted.
Bitso: Crypto Exchange Information
BITSO SAPI de CV is one of the leading crypto exchanges in LATAM. Ben Peters, Daniel Vogel, and Pablo Gonzalez founded the company in January 2014 as a Mexican start-up.
Led by CEO Daniel Vogel, the exchange has acquired licenses in Mexico, Brazil,and Argentina. Bitso Key Features:
- 8M+ global users
- 3B+ cryptocurrency international transfers
- 1,700+ corporate clients
Bitso's mission is clear: to bring cryptocurrencies to the mainstream in Latin America by providing a user-friendly, compliant, and secure trading platform for investors across the region.
The exchange is notably the first Latin American crypto company licensed under the Distributed Ledger Technology framework by the Gibraltar Financial Services Commission (GFSC)
Bitso Exchange Specific Features
What sets Bitso apart from other crypto exchanges? Let's dive into some of its standout features.
Exchange | Bitso |
Launch Date | 2014 |
Levels | Variable based on the base currency |
Trading Fees | Variable based on the base currency |
Restricted Countries | 33 jurisdictions, including the USA |
Supported Coins | 50+ |
Futures Trading | No |
Minimum Deposit | N/A |
Deposit Methods | Crypto, Mexican Pesos, Argentinian Pesos, Digital Dollars (USDC), Brazilian Reais, Colombian Pesos |
Withdrawal Methods | Crypto, Mexican Pesos, Argentinian Pesos, Digital Dollars (USDC), Brazilian Reais, Colombian Pesos |
Maximum Leverage | 1:1 |
Minimum Trade Size | $10 |
Security Factors | Insurance-backed guarantee by Coincover, 2FA, Proof of Reserve |
Services | Alpha Pro, Earnings, Bitso Card |
Customer Support Ways | Live Chat |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | No |
Orders Execution | Market |
Native Token | None |
Bitso Advantages and Disadvantages
While the platform offers various features, including a Debit card service with MXN as its base currency (withdrawable from ATMs around the globe), it also has some weaknesses.
Pros | Cons |
Multi-layered security approach | Geo-restrictions |
Volume-based fee discounts | Region-specific services (Bitso card is only available for residents in Mexico) |
Regulatory compliance | No futures trading |
User-Friendly interface | Limited support channels |
Bitso User Levels
The exchange supports various base currencies for its trading pairs, including USD, MXN, BTC, BRL, ARS, DAI, USDT, and COP. Each market comes with different user levels and trading fees.
USD (USDC) Market
- 11 volume-based user levels from $0 to $30M
- Maker fees: from 0.04% to 0.25%
- Taker fees: from 0.05% to 0.30%
BTC Market
- 10 user levels with trading volumes of up to 950+
- Maker fees: from 0.05% to 0.075%
- Taker fees: from 0.065% to 0.098%
Mexican Pesos (MXN) Market
- 10 levels with trading volumes ranging from 0.0 to 150M+
- Maker fees: from 0.10% to 0.50%
- Taker fees: from 0.13% to 0.65%
Brazilian Reais (BRL) Market
- 10 user levels with trading volumes of up to 162.3M
- Maker fees: from 0.08% to 0.20%
- Taker fees: from 0.15% to 0.40%
Argentinian Pesos (ARS) Market
- 10 levels ranging from 0.0 to 3.9B+
- Maker fees: from 0.10% to 0.45%
- Taker fees: from 0.15% to 0.60%
DAI Market
- 10 user levels with trading volumes ranging from 0.0 to 19.5M+
- Maker fees: from 0.08% to 0.25%
- Taker fees: from 0.10% to 0.30%
Colombian Pesos (COP) Market
- 13 levels with trading volumes of up to 190B+
- Maker fees: from 0.12% to 0.50%
- Taker fees: from 0.17% to 0.65%
The platform also provides a USDT market with different user levels:
Trading Volume USDT | Maker | Taker |
< 500,000 | 0.095% | 0.099% |
> 500,000 | 0.090% | 0.099% |
> 1,000,000 | 0.084% | 0.099% |
> 1,500,000 | 0.080% | 0.095% |
> 3,000,000 | 0.075% | 0.090% |
> 5,000,000 | 0.069% | 0.080% |
> 10,000,000 | 0.060% | 0.069% |
> 15,000,000 | 0.050% | 0.060% |
> 20,000,000 | 0.040% | 0.050% |
Fees and Commissions
As mentioned in the previous section of this Bitso review, the platform offers eight different crypto trading markets with varying trading fees and discount percentages. In the table below, we gather the trading fees for the USD market.
Trading Volume USD | Maker | Taker |
< 1,000 | 0.250% | 0.300% |
> 1,000 | 0.210% | 0.260% |
> 5,000 | 0.180% | 0.220% |
> 10,000 | 0.150% | 0.190% |
> 50,000 | 0.120% | 0.160% |
> 100,000 | 0.100% | 0.120% |
> 1,000,000 | 0.085% | 0.095% |
> 5,000,000 | 0.072% | 0.082% |
> 10,000,000 | 0.060% | 0.069% |
> 20,000,000 | 0.050% | 0.060% |
> 30,000,000 | 0.040% | 0.050% |
While the exchange charges no commissions for crypto deposits and fiat transactions, crypto withdrawals have fees that vary depending on the currency.
Bitso Exchange Crypto Offerings
The platform has listed over 50 popular cryptocurrencies in 4 categories, including Stablecoins, Games, Web3, and Earnings.
- DAI
- USDC
- USDT
- ADA
- ATOM
- APE
- GALA
- LINK
- SHIB
Futures and Margin Trading
The exchange doesn’t support Futures contracts or leveraged trading. It focuses on spot trading and provides a seamless experience through the Alpha Pro platform.
Leverage allows traders to potentially amplify their gains, but it also comes with increased risk. Thus, the lack of such services can potentially benefit novice traders.
Bitso Registration and Verification
In this Bitso review, we would like to note that to use the platform, you must be at least 18 years old, have a valid and current identification document, and operate within permitted jurisdictions.
#1 Create Your Bitso Account
Start by visiting the official Bitso website and selecting the “Start Now” option to begin registration.
#2 Submit Registration Details
Enter your basic personal information, including name, email address, and password, to set up your account.
#3 Verify Email and Phone
Confirm your email address by clicking the link sent to your inbox, and then proceed to validate your mobile number.
#4 Complete Identity Verification
Upload proof of identity (passport or driver’s license) and proof of address (such as a utility bill or bank statement) to complete the KYC verification and gain access to full platform features.
Apps and Platforms
Bitso has developed 2 distinguished mobile applications, one for simple buy/sell and the Alpha for crypto trading with advanced TradingView charting tools and order types (e.g., Limit, Stop-Loss, and Stop-Limit).
TradingFinder has developed a wide range of TradingView indicators that you can access for free.
Safety and Security
The platform prioritizes the safety of user funds and data. Bitso claims to be the first company in Latin America to obtain a crypto license for both custody and trading.
The Bitso GFSC license is under the name “Badger Technology Company Limited” with incorporation No. 117775. The exchange has also implemented multiple safety factors, including:
- Multi-Signature Accounts
- Two-Factor Authentication (2FA)
- Insurance Coverage by Coincover
- Proof of Reserve
The platform has not suffered any confirmed hacks to date.
Bitso Deposit and Withdrawal
The exchange supports crypto and fiat transactions for moving funds in and out of the platform.
Currency | Deposit Methods | Withdrawal Methods |
Mexican Pesos | Bank Transfer (SPEI) | Bank Transfer (SPEI), Debit Card, Mobile Transfer |
Argentinian Pesos | Bank Transfer (COELSA) | Bank Transfer (COELSA) |
Brazilian Reais | TED, PIX | TED, PIX |
Colombian Pesos | Bank Transfer | Bank Transfer |
The company also supports transactions of the above currencies free of charge via the Bitso Transfer service.
User Satisfaction
Exploring the platform’s trust score across reputable sources like TrustPilot and Reviews.io is vital to this Bitso review.
The crypto exchange doesn’t perform well in this regard since it has received a poor rating from users.
1.8/5 based on 38 ratings | |
Reviews.io | 1.9/5 based on 24 comments |
Bitso Features
Here are the major additional features offered by the exchange:
Staking | Yes |
Yield Farming | No |
Social Trading | No |
Launchpool | No |
Crypto Cards | Yes |
Bitso Exchange Customer Support
The platform lacks proper support channels, as it only offers a 24/7 Live Chat feature and a Ticket system to customers who need it.
The exchange doesn’t provide an email address or physical location on its website.
Bitso Earnings Service
The exchange offers a dedicated service for users to earn passive income on their crypto holdings. Key features of the Earnings service:
- Free activation
- Up to 18.2% annual yield
- Available for 7 cryptocurrencies, including ATOM, ADA, USDT, SOL, DOT, ETH, and USDC
Bitso Supported Countries
The company provides a regulated environment for crypto enthusiasts all around the world. However, due to legal requirements, it has been restricted in certain jurisdictions, including:
- Afghanistan
- Belarus
- Bosnia and Herzegovina
- Burundi
- Central African Republic
- China
- Cuba
- Democratic People's Republic of Korea (DPRK)
- Democratic Republic of Congo
- Ethiopia
- Guinea
- Guinea Bissau
- Iran
- Iraq
- Kosovo
- Lebanon
- Libya
- Macedonia
- Mali
- Montenegro
- Myanmar (Burma)
- Nicaragua
- Russia
- Serbia
- Somalia
- South Sudan
- Sudan
- Syria
- Ukraine
- United States of America
- Venezuela
- Yemen
- Zimbabwe
Bitso Compared to Its Peers
The comprehensive table below compares the reviewed platform to three other exchanges in the crypto industry:
Features | Bitso Exchange | Binance Exchange | Kucoin Exchange | Bitunix Exchange |
Number of Assets | 50+ | 400+ | 700+ | 300+ |
Maximum Leverage | 1:1 | 1:125 | 1:100 | 1:125 |
Minimum Deposit | $10 | $1 | $1 | $10 |
Spot Maker Fee | From 0.04% | 0.02% - 0.1% | From 0.005% | 0.01% - 0.08% |
Spot Taker Fee | From 0.05% | 0.04% - 0.1% | From 0.025% | 0.01% - 0.1% |
Mandatory KYC | No | Yes | Yes | No |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | No |
Staking | Yes | Yes | Yes | No |
Copy Trading | No | Yes | No | Yes |
Writer's Opinion and Conclusion
Bitso provides access to 50+ cryptocurrencies for spot trading. It supports deposits and withdrawals of multiple fiat currencies, including MXN, BRL, ARS, and COP. The exchange has a TrustPilot score of 1.8.